Volume and price statistics of external merchandise trade in December 2017


Hong Kong (HKSAR) -      Further to the external merchandise trade statistics in value terms for December 2017 released earlier on, the Census and Statistics Department (C&SD) released today (February 13) the volume and price statistics of external merchandise trade for that month.
 
     In December 2017, the volume of Hong Kong's re-exports of goods increased by 3.9% over December 2016, whereas that of domestic exports decreased by 0.2%. Taken together, the volume of total exports of goods increased by 3.8%. Concurrently, the volume of imports of goods increased by 6.7%.
 
     Comparing 2017 with 2016, the volume of Hong Kong's re-exports of goods increased by 6.3%, whereas that of domestic exports decreased by 0.4%.

Taken together, the volume of total exports of goods increased by 6.2%. Concurrently, the volume of imports of goods increased by 6.8%.
 
     Comparing the fourth quarter of 2017 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 2.6%. Within this total, the volume of re-exports increased by 2.7%, while that of domestic exports increased by 0.3%. Concurrently, the volume of imports of goods increased by 3.5%.
 
     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
 
     Comparing December 2017 with December 2016, the prices of re-exports of goods increased by 2.2%, while those of domestic exports increased by 0.8%. Taken together, the prices of total exports of goods increased by 2.2%. Concurrently, the prices of imports of goods increased by 2.3%.
 
     As regards price changes in 2017 over 2016, the prices of re-exports of goods increased by 1.8%, while those of domestic exports increased by 2.0%.

Taken together, the prices of total exports of goods increased by 1.8%. Concurrently, the prices of imports of goods increased by 1.9%.
 
     Price changes in external merchandise trade are reflected by changes in unit value indices of external merchandise trade, which are compiled based on average unit values or, for certain commodities, specific price data.

     The terms of trade index is derived from the ratio of price index of total exports of goods to that of imports of goods. Compared with the same periods in 2016, the index remained virtually unchanged in December 2017, whereas it decreased by 0.1% in 2017 as a whole.
 
     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
 
     Comparing December 2017 with December 2016, the total export volume to India increased substantially, by 69.0%.  Concurrently, the total export volume to the USA, Vietnam and Japan increased by 9.0%, 7.9% and 7.6% respectively. On the other hand, the total export volume to the mainland of China (the Mainland) decreased by 1.2%.
 
     Over the same period of comparison, the total export prices to the Mainland, Japan, the USA and Vietnam increased by 2.9%, 2.6%, 2.5% and 0.5% respectively. On the other hand, the total export prices to India decreased by 0.7%.
 
     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
 
     Comparing December 2017 with December 2016, the import volume from Taiwan increased significantly, by 24.6%.

Concurrently, the import volume from Korea, Japan and the Mainland increased by 11.9%, 5.7% and 2.6% respectively. On the other hand, the import volume from Singapore decreased by 8.5%.
 
     Over the same period of comparison, the import prices from all main suppliers increased: Korea (+4.8%), Taiwan (+4.6%), Singapore (+3.0%), the Mainland (+1.6%) and Japan (+0.7%).
 
Further information
 
     Details of the above statistics are published in the December 2017 issue of "Hong Kong Merchandise Trade Index Numbers".   Users can download the publication free of charge at the website of the C&SD (http://www.censtatd.gov.hk/hkstat/sub/sp230.jsp?productCode=B1020006" target="_blank">www.censtatd.gov.hk/hkstat/sub/sp230.jsp?productCode=B1020006).
 
     The C&SD reviews from time to time the statistics to be reported in press releases to facilitate more focused analysis. Following a recent review, domestic exports and re-exports will no longer be reported in this press release series as from the January 2018 issue.

The analysis on total exports and imports will remain unchanged.
 
     Enquiries on merchandise trade indices may be directed to the Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).



Published on: 2018-02-13

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